“We Should Expect Upheavals” – Henry Paulson

From The SPIEGEL: , CEO of the investment bank Goldman Sachs discusses global imbalances, the rise of China and German pessimism.

SPIEGEL: Mr. Paulson, the global economy is shaky: China is flooding the world with cheap products. The Americans have to finance their spending sprees with loans, and worried Germans are saving every euro they can. How long can this last?

Paulson: I don’t share your pessimism. Most of the countries in which we do business are either performing better than they did last year or are doing better than expected. The U.S. economy has grown at a healthy rate and, notwithstanding the severe hurricanes, it is likely to continue producing solid growth. That gives us a position of strength from which to deal with these imbalances.

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